Sponda party to a logistics property fund
Sponda Plc and seven institutional investors have today signed an agreement to establish a logistics property fund, Sponda Real Estate Fund I Ky. The target size of the fund’s real estate investments is in the region of EUR 200 million. Under the terms of agreement, the fund is to purchase logistics properties valued at approximately EUR 80 million from Sponda and the institutional investors involved. The institutional investors involved in establishing the fund are Mutual Insurance Company Pension Fennia, Fennia Mutual Insurance Company, Fennia Life Insurance Company Ltd, Veritas Pension Insurance Company Ltd, Veritas Life Insurance Company Ltd, Assai Oy and Etera Mutual Pension Insurance Company. Sponda’s contribution to the fund at the time of setting it up comes to 47%. Sponda will be responsible for providing management services both to the fund and the properties. ICECAPITAL Securities Ltd is acting as the financial advisor in setting up the fund and arranging financing. The fund’s properties are located in different parts of Finland, such as in Vantaa, Turku, Tampere and Nastola, and its objective is to invest in logistics properties throughout the country.
Sponda Plc
Kari Inkinen
President and CEO
For further details, please contact:
Kari Inkinen, President and CEO, Sponda Plc, tel. + 358 9 6805 8202, mobile + 358 400 402 653
Sponda Plc is a real estate investment company specializing in commercial properties in the Helsinki Metropolitan Area. Sponda’s business concept is to own and develop office, retail and logistics properties into environments that promote the business success of its clients. The market value of Sponda’s investment properties is approximately EUR 1.26 billion and the lettable area is 840,000 m2. Sponda is the largest real estate investment company listed on the Helsinki Stock Exchange.
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